Answer:
D. The minimum of the range
Explanation:
First, it is essential to note the accrual of loss contingency is accruable only if the amount is estimable to a reasonable extent and the loss is also probable. Wyatt Co's loss is actually both probable and reasonably estimated so it meets the two criteria.
Furthermore, since it is reasonable within a rang of outcomes, Accounting Standards Codification Topic 450 (of the Financial Accounting Standard Board) dictates the amount to be accrued should be the better estimate of all amounts within the range.
The standard further states that in a situation where a better estimate can not be determined among the other amounts within the range then the amount accrued should be the one at the range's low end or the minimum amount of the range.
All these criteria shows that Wyatt CO's loss should accrue the minimum amount in the range
Answer:
$6,000
Explanation:
Since the main the activitity of Carlos' business is dry cleaning services, but not a trade in or business in holding real property, he is only is at risk for $30,000 which is personal money
Therefore, the total of $24,000 will be deducted in the first year while the remaining $6,000 will be deducted in the second year to have a total of $30,000 which is his personal risk.
Therefore, for the second year, Carlos can deduct <u>$6,000</u> of the loss.
Economists call this a change in demand as the curve is directly linked to the demand of the product. When the demand goes up or down the curve moves left or right accordingly.
Answer: Spreadsheets
Explanation: Spreadsheets allow you to
foresee and edit data, while also seeing
the past data to help towards ones
future business goals.